Your new business is finally up and running and you feel like a kid in a candy store. You are happy, you have all your ducks in a row, and you feel ready for that first sale. Here are five things that you need to know in order to be successful in your business now and in the future.
It's About the Experience
Make sure that your customer's journey is a pleasant one every single step of the way. Businesses thrive on customers having a great experience when buying a product or service, so it's up to you to make sure that this happens for the people that you serve.
Providing a good experience for customers is important for future growth and success because these customers are going to be able to speak well of their experience with your business. They're also the customers most likely to come back repeatedly.
Reputation is Important
Being able to manage your online reputation is important if you want to have a successful business. Once you've established a solid customer base, ask these customers to review you on outlets like Google and Yelp. Also, you can politely invite them to send in video testimonials of their experiences with your business, which you can use for marketing on your website.
By utilizing customer testimonials to manage your reputation, you'll be able to gain new customers faster because you have built a trust factor with your audience. If you're concerned about asking your customers for testimonials, don't be. Your customers will love to be involved in the process of your success and offer you their perspective on their positive experience in working with you.
Your Mindset Holds the Key
Some people say that the key to success is knowing how to make a sale. The true key to success is in your mindset.
Your mindset holds the key to your ability to be able to market yourself well to your target audience. If you have limiting beliefs on how many sales per month you can make or how many clients you can work with in one year, then you'll see that come to fruition in your business. Train your mindset so that you're setting yourself up for success and eliminating limiting beliefs from the get-go.
Your Business Shouldn’t Be a Replica of Someone Else’s
It's very easy when you're starting out in business to play the comparison game. Especially if your business is a year old or younger.
There may be people who have been in business at the same time as you and you see them and feel like they're crushing it with their sales goals and client testimonials and pretty photo shoots.
The truth is, your business shouldn't be a replica of anybody else's business. Your business is a living, breathing entity of its own that is specific to you and how you operate and who you serve. Don’t try to copy someone else.
Be at Peace with Failure
While you may feel like failure is one of the worst things that can happen in your new business, that could not be further from the truth.
Use failure as a stepping stone to learn what you need to know to run your business successfully. Everything in your business that doesn't work out the way you expected it to has a solution on the other side of it.
By using these five things as guideposts in your business, you're setting yourself up for success and less frustration when failure hits.
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Equality in the workplace benefits everyone, and employers should take the time to learn more ways that they can create a more just workplace.
Creating a just workplace should be a top priority of all business owners. Fair workplaces are one of the cornerstones of strong businesses, and civil rights movements have affected workplaces in many ways, providing better opportunities and better workplaces for everyone. Several civil rights movements have made substantial changes possible, and here's a brief rundown of three of the biggest ones.
Mental Health Awareness and Support
The Americans With Disabilities Act requires that employers provide equality for people with disabilities in the workplace. This includes people with psychiatric conditions. Under this law, employers can't deny hiring, demote, or deny training opportunities to someone based on their psychiatric condition.
Employers have also come up with programs to ensure employees with mental health conditions have access to the care that they need, including doctor's visits through insurance providers and accommodations for people with psychiatric conditions.
Equality in the workplace covers many groups. Under Title VI of the Civil Rights Act of 1964, employers aren't allowed to discriminate based on race, color, national origin, sex, and religion. With this law, employers must give equal opportunity for employment, and they can't discriminate against someone based on these criteria for pay and advancement. This civil rights attorney explains that many states have several additional civil rights statutes which can be utilized in cases involving discrimination, harassment or violence and which allow for penalties, attorneys’ fees, compensation, and change.
The Age Discrimination in Employment Act of 1967 requires employers to not discriminate against people based on age. This means that people cannot be discriminated during hiring, promotion, discharge, compensation, or terms. Creating a workforce of diverse ages also provides more stability for companies.
This career and job specialist explains that people of different ages have varying perspectives that they can use to inform each other. For instance, a 65-year-old woman might understand the utility of a particular product, but a 25-year-old worker might understand a younger consumer better. Businesses that have a wider range of ages also don't need to worry as much that all of their employees will retire within a few years of each other or all younger employees will be vying for a limited number of promotions.
Equality in the workplace benefits everyone, and employers should take the time to learn more ways that they can create a more just workplace. Businesses that merely work to be in compliance with the law rather than truly promoting an equitable work environment are losing out on opportunities to create a stronger business.
Here are a couple articles we think you’ll like:
Women are starting businesses at a record pace — motivated to pursue passions, financial independence and the flexibility that eludes most traditional jobs.
(BPT) - Women are starting businesses at a record pace — motivated to pursue passions, financial independence and the flexibility that eludes most traditional jobs.
In the U.S. alone, women entrepreneurs generate $1.1 million in revenue on average across retail, professional and personal service businesses that have operated for 11 years. This stat comes from Visa’s new ‘State of Female Entrepreneurship’ report, which informed their recently announced program, She’s Next, Empowered by Visa, a global initiative to support and champion women in their efforts to grow their small businesses.
That’s powerful stuff, highlighting the important role women entrepreneurs play in the prosperity and economic development of local communities. The typical entrepreneur is 42 years old and earns nearly $110,000 in household income a year, making a profound difference in building and supporting families in the community.
Clearly, female founders are coming into their own. In fact, the Visa study found that 79 percent of American women entrepreneurs feel more empowered now than they did five years ago.
Still, key challenges exist: 73 percent say funding does not come easily, and nearly 2/3 use their own funds to get started. Assembling a good team, finding the right tools and dealing with competitors are among the biggest challenges keeping women entrepreneurs up at night.
For any entrepreneur, it can feel like there’s never enough time or resources to grow a business. To help other entrepreneurs and based on insights from the ’State of Female Entrepreneurship’ report, Visa polled four areas women entrepreneurs focus on to turbocharge success:
Find mentors: More than two-thirds said they wanted advice from fellow entrepreneurs. Relatable role models and mentors are invaluable when you’re making the leap to starting or building your own business.
Find your feet: Strategy development is critical for women starting up their own company. Assembling a good team was a challenge encountered by 37 percent of women founders. Other challenges include: finding the tools to grow and manage their business (36 percent), competition (36 percent) and growing as quickly as they need to (33 percent). Have a plan and pursue your vision.
Gather capital to invest in your business: Cash flow is the lifeblood of any business. Respondents cited profits and revenue growth as the top two priorities for improvement. Thirty-two percent of women would direct additional funding toward newer technology.
Put in overtime: When building a business, time is precious. Given the investment and high stakes that come with the territory, it comes as little surprise that a majority of women entrepreneurs (56 percent) are putting in more work hours than before they started their business.
If you’ve joined the ranks of female entrepreneurs, find support and resources by signing up for the Female Founder Collective, and visit She’s Next, Empowered by Visa where you can download and print a toolkit with tips and advice to help build and sustain your company.
Successful business models tend to hinge on delivering what consumers need, when they need it – a moving target that can be difficult to attain. As your consumers’ wants and needs continue to evolve, consider these ways to refresh your business without overhauling core principles.
A Breath of Fresh Air: 7 ways to refresh your small business
7 ways to refresh your small business
(Family Features) Successful business models tend to hinge on delivering what consumers need, when they need it – a moving target that can be difficult to attain. As your consumers’ wants and needs continue to evolve, consider these ways to refresh your business without overhauling core principles.
Reset short-term goals. Get to the root of the reasons you’re looking to refresh in the first place. Focus on what you’d like to change in the not-so-distant future and how you can accomplish it. Also make sure your short-term goals keep you on track for the long-term goals already established for your business.
Refresh online materials. In today’s digital world, consumers have high expectations. Maybe your website is outdated, can’t keep up with traffic or, worse, is nonexistent. Freshen things up with a redesign or even just slight tweaks to make it easier for customers to navigate. For a simple solution, consider adding a blog section where new content can be posted weekly or monthly to give customers a reason to return and to help build your search engine ranking for specific keywords.
Rethink storefronts. To help consumers make the most of their time, small business owners are partnering with other businesses to include their services under the same roof. For example, The UPS Store has a re-engineered model that exists within other retailers, such as pharmacies, hardware stores or grocery stores, that still provides all the services consumers would find at a traditional store.
“Our store-in-store model offers a smaller footprint store that still provides all of the services people need,” said Chris Adkins, vice president of franchise and business development with The UPS Store. “This is an opportunity for an existing business to set itself apart from the competition and offer added value to customers as a one-stop shop, where customers can conveniently take care of multiple tasks at once.”
With customer convenience also in mind, the model also includes updates in traditional stores to incorporate technology and other contemporary elements, including features like smart lockers, digital signage, print consultation workstations and self-service options available 24 hours a day, seven days a week.
Replace outdated strategies. If your business has been in operation for a while, there’s a chance your previously successful marketing strategies may be a bit out of touch. Consider your target audience and the ways you’re most likely to reach those consumers. For example, social media is a must to keep up with competition and there are ways you can amp up your strategy in the ever-evolving social space. Whether it’s posting short factoids, long-form information, links to online content or simple images of your products, it can be a productive way to reach your audience.
Reconnect with consumers. If overhauling marketing strategies or diving headfirst into social media seems like a stretch for your small business, start small. Simply reconnecting with loyal customers may be just what’s needed to rejuvenate the buzz surrounding your company. Try holding a contest for the best customer-submitted content to use online, or create a giveaway for a randomly chosen commenter on your latest social posts. These types of online conversations can attract consumers who may have been previously unaware of your goods or services.
Revive printed materials. Business cards, flyers, banners, posters, newsletters and any other type of printed materials may be the first impression potential customers have of your company. Using professional, well-designed printed items to let customers know what you do, like those available through The UPS Store, can convey the correct message to consumers that your products or services can meet their needs. Whether you think slight tweaks to your current materials will suffice or a more drastic redesign is necessary, it can help to ask friends, neighbors and even current clients and customers how they feel about the materials you’re using. Pay attention to layout, headlines, colors, white space and even font choices.
Rebrand your business. It may sound like a lot of work, and it certainly can be, but rebranding your business doesn’t have to mean changing the company name or rethinking product lines. Simply updating logos to appear more modern or rethinking an overused slogan can give your business a fresh vibe. Remember that enhancing the look of something seemingly as small as your logo can make a big difference, especially considering that image is likely the first thing a consumer sees when visiting your social pages or website.
Even companies experiencing success should often weigh the pros and cons of refreshing certain business elements to keep things impactful for current and potential customers. Find more tips and ways to improve your small business at theupsstore.com.
How Retailers Can Put Convenience First
In the race to nab consumers’ attention (and dollars), retailers need to be increasingly creative. Some of the more successful efforts show that retailers must recognize the value shoppers place on convenience. Look for ways to boost convenience for your consumers, such as:
Photos courtesy of Getty ImagesSOURCE:
The UPS Store
These are the Final Two Videos for Management 464… These are for the final two Mondays (11/19 and 11/26). Now, you've reached the end of the semester! Congrats! And again, if you like and personally find value in these videos, do please share them further.
Video 65 - 11/19
4 SMART NETWORKING HABITS YOU NEED TO START
Short Link: http://bit.ly/2GbyRbi
Video 66 - 11/26
Topic: Your Future
Oh, the Places You'll Go
Short Link: http://bit.ly/2hrudKc
This is the Week 13 Video List for Management 464… If you like and personally find value in these videos, do please share them further.
Video 60 - 11/12
How To Survive A Mass Shooting | Better | NBC News
Short Link: http://bit.ly/2GdXkbK
Video 61 - 11/13
BRAND YOU: YOU ARE YOUR CALENDAR
Short Link: http://bit.ly/2vSWQWi
Video 62 - 11/14
How KFC Won Over China
Short Link: http://bit.ly/2oXtWji
Video 63 - 11/15
THE RISE OF ONLINE FOOD DELIVERY
Short Link: http://bit.ly/2vBaGNY
Video 64 - 11/16
Bulletproof Coffee Grew From a Blog to $50 Million
Short Link: http://bit.ly/2wXWmgC
This is the Week 13 Video List for Management 351… If you like and personally find value in these videos, do please share them further.
Video 60 - 11/12
HOW TO STAY MOTIVATED WHEN RUNNING A BUSINESS
Short Link: http://bit.ly/2vwNAai
Video 61 - 11/13
HOW TO MANAGE EMPLOYEE PERFORMANCE?
Short Link: http://bit.ly/2vA1lWw
Video 62 - 11/14
IS THIS THE WORLD'S MOST BABY-FRIENDLY OFFICE EVER?
Short Link: http://bit.ly/2wa6676
Video 63 - 11/15
Emojis Can Help Improve Communication And Our Relationships | Better | NBC News
Short Link: http://bit.ly/2vQFfPC
Video 64 - 11/16
How to Persuade Others with the Right Questions: Jedi Mind Tricks from Daniel H. Pink
Short Link: http://bit.ly/2uORGqs
This is the Week 12 Video List for Management 464… If you like and personally find value in these videos, do please share them further.
Video 55 - 11/5
What this Navy SEAL's '40% rule' can teach you about success
Short Link: http://bit.ly/2uzG3V2
Video 56 - 11/6
ATHLEISURE: ACTIVEWEAR STEPS OUT
Short Link: http://bit.ly/2vz0pko
Video 57 - 11/7
Property Brothers: We Figured Out How To Work With Family Members | Better | NBC News
Short Link: http://bit.ly/2MZ3js1
Video 58 - 11/8
Why Companies Constantly Conceal Facts - And Why That Might Not Be Such A Bad ThingShort Link: http://bit.ly/2PGd6AH
Video 59 - 11/9
Autonomous Grocery Delivery Is Almost Here
Short Link: http://bit.ly/2NlPkwA
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